1. Deals Analysis
June 22, 2021

Technology industry future of work deals total $1.7bn globally in May 2021

By Carmen

Total technology industry future of work deals worth $1.7bn were announced globally for May 2021, with the $382.85m private equity deal with Redwood Software Nederland being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 62.1% over the previous month of $4.46bn and a drop of 74.3% when compared with the last 12-month average of $6.58bn.

In terms of number of future of work deals, the sector saw a drop of 25.00% with 54 deals in May 2021 when compared to the last 12-month average of 72 deals.

In value terms, North America led the activity with future of work deals worth $682.76m in May 2021.

technology industry future of work deals in May 2021: Top deals

The top five future of work deals accounted for 71.03% of the overall value during May 2021.

The combined value of the top five future of work deals stood at $1.2bn, against the overall value of $1.7bn recorded for the month.

The top five technology industry future of work deals of May 2021 tracked by GlobalData were:

1) Turn/River Capital’s $382.85m private equity deal with Redwood Software Nederland

2) The $300m acquisition of Prospera Technologies by Valmont Industries

3) Better Collective’s $240m acquisition of Action Network

4) The $175m venture financing deal of Riiid by SoftBank Vision Fund II

5) Baseline Ventures, Eleven Prime, Greenspring Associates, Institutional Venture Partners, NextEquity Partners, Owl Rock Capital Partners, Sapphire Ventures, Scale Venture Partners, Threshold Ventures and Top Tier Capital Partners’ venture financing deal with Circle Internet Services for $100m.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

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